- USDTHB: moving in the range 36.33-36.37 this morning supportive level at 36.20 resistance level at 36.50
· SET Index: 1,377.9 (+0.55%), 29 Mar 2024
· S&P 500 Index: 5,254.4 (+0.11%), 28 Mar 2024
· Thai 10-year government bond yield (interpolated): 2.51 (-1.32 bps), 29 Mar 2024
· US 10-year treasury yield: 4.20 (+0.00 bps), 28 Mar 2024
- US monthly inflation slows; consumer spending surges
- China's March factory activity expands for first time in six months
- Thai economy expands slowly in February, helped by tourism, central bank says
- Japan flags 'speculative' yen moves, signals chance of intervention
US monthly inflation slows; consumer spending surges U.S. prices increased less than expected in February, with the cost of services outside housing and energy slowing significantly, keeping a June interest rate cut from the Federal Reserve on the table. The personal consumption expenditures (PCE) price index rose 0.3% last month, the Commerce Department's Bureau of Economic Analysis said. Data for January was revised higher to show the PCE price index climbing 0.4% instead of 0.3% as previously reported. Goods prices rose 0.5% last month, boosted by a 3.4% jump in the cost of gasoline and other energy products. There were also strong increases in the prices of recreational goods and vehicles as well as clothing and footwear. But prices for furnishings and household equipment, and other long-lasting manufactured goods were subdued. In the 12 months through February, PCE inflation advanced 2.5% after increasing 2.4% in January.
China's March factory activity expands for first time in six months China's manufacturing activity expanded for the first time in six months in March, an official factory survey showed on Sunday, offering relief to policymakers even as a crisis in the property sector remains a drag on the economy and confidence. The official purchasing managers' index (PMI) rose to 50.8 in March from 49.1 in February, above the 50-mark separating growth from contraction and topping a median forecast of 49.9 in a Reuters poll. Though the pace of growth was modest, it was also the highest PMI reading since March of last year, when momentum from the lifting of tough COVID-19 restrictions began to stall. New export orders rose into positive territory, breaking a 11-month slump, but employment continued to shrink, albeit at a slower rate, the PMI data showed.
Thai economy expands slowly in February, helped by tourism, central bank says Thailand's economy expanded slowly in February with growth in the service sector and an increase in tourist arrivals offseting a fall in exports from the previous month, the Bank of Thailand (BOT) said. Thailand recorded a current account surplus of $2 billion in February, after a deficit of $0.2 billion in the previous month. There have been 8.73 million foreign tourist arrivals in Thailand this year up to March 24, up 44% year-on-year, with visitors from China reaching 1.63 million, tourism ministry data showed. The government is aiming for a record of 40 million foreign visitors this year following the 28 million in 2023. The economy in March will be helped by tourism, but export recovery and industrial manufacturing will have to be closely monitored.
Japan flags 'speculative' yen moves, signals chance of intervention The 10-year government bond yield (interpolated) on the previous trading day was 2.51, -1.32 bps. The benchmark government bond yield (LB31DA) was 2.51, +0.00 bps. Meantime, the latest closed US 10-year bond yields was 4.20, +0.00 bps. USDTHB on the previous trading day closed around 36.45. Moving in a range of 36.33-36.37 this morning. USDTHB could be closed between 36.20-36.50 today. Japanese Finance Minister Shunichi Suzuki said on Friday there were "speculative" moves behind recent yen declines, suggesting authorities remained on stand-by to intervene in the market to address any excessive falls in the currency. Suzuki also said authorities were watching the speed, rather than the levels, of the yen's moves. He repeated Tokyo's recent warnings that authorities would not rule out any steps to respond to disorderly currency moves. With the BOJ's policy rate still stuck around zero, expectations the gap between U.S. and Japanese interest rates will remain wide are giving traders an excuse to keep selling yen, analysts say.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
